What will happen to the housing market? There are lots of predictions, from big growths to slight falls in house prices, but overall, most experts predict a slight rise in prices of around 1% by the end of 2018.
Nationwide expects to see a growth in the UK economy of 1% to 1.5% in 2018 and 2019, and predict that this will directly be reflected in the housing market. Expecting house prices to stay stable in 2018. In the longer term house prices should rise in line with earnings, so a growth of 3.4% per year
The Royal Institution Of Chartered Surveyors is expecting low house price growth nationally in 2018, with price growth in some regions and declines in others.
Property portal Rightmove also expects a small growth in house prices by the end of 2018. The shortage of supply will drive up prices in some areas, but asking prices may need to be cut in other places. Rightmove predicts an overall increase in 1% in 2018
Small house price increases mean that it is a good time to move. You can get a good sale price for any current property you own, and there is not a huge rush to buy, so you can take your time to find your dream home.
Article written and orginally published by The Guild Property Professionals